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Dv=H+L-2*C;
Plot(Dv,"",9,2);
DvH=LastValue(Highest(Dv));
DvL=LastValue(Lowest(Dv));
Coeff=0.005;
A1=DvH*exp(-Coeff*Cum(1));
A2=DvL*exp(-Coeff*Cum(1));
Plot(A1,"",1,8);Plot(A2,"",1,8);
Exponential coefficient 0.005 is satisfactory for many examples.
In some cases ( YHOO) you may go up to 0.0075 or come down to 0.0025 (MSFT).
Some stocks do not follow this exponential decay model.
Dimitris Tsokakis
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<DIV><FONT size=2>Close value is not always the average of H, L. If thereis a
strong buying pressure, Close will be near H and </FONT></DIV>
<DIV><FONT size=2>if the selling pressure is strong, Close will be near
L.</FONT></DIV>
<DIV><FONT size=2>The quantity</FONT><FONT size=2> Dv=H+L-2*C is descriptive
enough.</FONT></DIV>
<DIV><FONT size=2>For many stocks the Dv graph follows the last 30 monthsan
exponential damping, as you may see from</FONT></DIV>
<DIV><FONT face=Verdana size=2><FONT
face="Times New Roman"></FONT></FONT> </DIV>
<DIV><FONT face=Verdana size=2><FONT
face="Times New Roman">Dv=H+L-2*C;<BR>Plot(Dv,"",9,2);<BR>DvH=LastValue(Highest(Dv));<BR>DvL=LastValue(Lowest(Dv));<BR>Coeff=0.005;<BR>A1=DvH*exp(-Coeff*Cum(1));<BR>A2=DvL*exp(-Coeff*Cum(1));<BR>Plot(A1,"",1,8);Plot(A2,"",1,8);</FONT></FONT></DIV>
<DIV><FONT face=Verdana size=2></FONT> </DIV>
<DIV><FONT size=2>Exponential coefficient 0.005 is satisfactory for many
examples.</FONT></DIV>
<DIV><FONT size=2>In some cases ( YHOO) you may go up to 0.0075 or come
down to 0.0025 (MSFT).</FONT></DIV>
<DIV><FONT size=2>Some stocks do not follow this exponential decay
model.</FONT><FONT face=Verdana size=2></DIV><FONT face="Times New Roman">
<DIV>Dimitris Tsokakis</FONT></FONT></DIV></BODY></HTML>
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